Stada dives as 5.3b euro bid fails to lure enough shareholders

Paris

STADA Arzneimittel AG shares dropped the most in a year after the German generic-drug maker's planned 5.3 billion-euro (S$8.3 billion) sale to two buyout firms fell apart as a small group of investors held out for a better deal.

Only 65.5 per cent of the shares were tendered in Bain Capital and Cinven's offer by the deadline on Thursday, Bad Vilbel, Germany-based Stada …